Ajman Bank, one of the leading financial institutions in the MENA region, has entered into a partnership with Yubi MENA to deliver seamless SME trade working capital, supply chain finance, and other value-added services to clients.
According to the statement, the collaboration aims to expand SME market penetration by leveraging Yubi’s advanced technology platform and strong domain expertise.
The Yubi Group is the world’s only technology company powering the end-to-end debt lifecycle. As part of this partnership, Yubi is activating its corporate loans and supply chain financing platform – Yubi Enterprise Credit Market for Ajman Bank. This enterprise financing marketplace enables seamless access to credit for businesses through a 100 percent digital and hassle-free process.
Officials’ comments on Ajman Bank-Yubi MENA collaboration
Faizal Kundil, Head of Consumer Banking at Ajman Bank, stated that, “Banks have to work with fintech firms rather than consider them competition. We are in the midst of a journey towards digital transformation, and this collaboration will enhance our SME finance offering to customers in that space.”
Gaurav Kumar, CEO of Yubi, commented that, “We are delighted to partner with Ajman Bank to power the SME ecosystem through cutting-edge technology and innovative financial solutions. Our mission is to make access to finance seamless and faster for SMEs, and this partnership marks a significant step towards achieving that goal in the UAE and beyond.”
The collaboration reflects Ajman Bank’s commitment to empowering SMEs with advanced technological tools and greater access to finance, fostering a culture of innovation and fintech partnership in the region.
